About Bulgaria

Why Invest in Bulgaria?

Bulgaria is developing quickly - both economically and politically; it is scheduled to join the EU in 2007 and is already benefiting from a large amount of investment in infrastructure. Bulgaria joined NATO in 2004 and has had a peaceful modern history which has not been marred the wars or ethnic conflict that have plagued other countries in the region.

The number of tourists, especially from Western Europe, is also increasing rapidly, over 30% each year for the last couple of years. Many tourists are drawn to the coastal resorts but Bulgaria also has much more to offer including ski resorts, beautiful countryside and eco-tourism. These factors make it excellent both for those looking to invest and those wanting a holiday home. We can offer houses, apartments and land in the most popular resorts but also in undiscovered areas and resorts where there are plans for development helping our buyers maximise their capital growth gains.

Bulgaria has a land area of about 110,000sq.km and a population of just around six million - so, not to point out the obvious, there is plenty of space and a massive potential for development. During communism most people moved to the cities to work so there is large amount of uninhabited rural property which can still be found
at extremely low prices. Many of these houses need renovation (and there is a lack of renovated, luxury properties on the market). For those looking for a great investment, using our renovation services to do up your chosen property is an excellent, and enjoyable prospect.

Dealing with BBProperties you can rest assured that with our prices, legal advice and services to our clients we aim for the highest standards. If you want to make the most of your investment in Bulgaria do speak to us.

Bugaria provides opportunities for skiing, coastal and mountain holidays, and is becoming an increasingly popular tourist destination. Bulgarian cuisine is wonderful – extremely healthy with lots of salads as well as traditional cooked dishes. The food is largely organic as is has a large domestic agriculture industry. Now a stable democratic country for over 15 years, it is scheduled to join the EU in Jan 2007, and property prices, which have already seen significant rises in the past couple of years, are really expected to take off.

Location

Modern day Bulgaria is situated in south-east Europe, occupying the north-eastern part of the Balkan Peninsula. Bordering Romania to the north via the historic Danube River, Serbia and Montenegro and Macedonia to the west, as well as Greece and Turkey to the South, the country lies in a hotbed of European culture.

Geography and Climate

Bulgaria is a country exceptionally blessed in natural resources. One third mountainous, possessing over 300 natural lakes, 1600 mineral springs, 3 stunning national parks, 9 natural parks, 89 reserves and 2,234 protected territories and natural landmarks, the country has remained remarkably unspoilt by tourism in comparison with many other, over-commercialised destinations.

The country’s geography gives rise to a varied and typically continental climate. Long, hot summers (there are on average 2000-2400 hours of sunlight per year) are typically followed by cold winters and dense snowfall, however mild, humid winters are more likely to prevail in the valley of the south-western Rhodopi Mountains. Regional climate differences are mostly subjective to varying altitudes. As a result, the country provides ideal conditions for skiing trips and beach holidays alike.

The average rainfall in Bulgaria is about 630 mm (about 25 in) per year, ranging from a low of about 190 mm in the northeast, to a high of about 1,900 mm in the Rila Mountains. In comparison Britain, in most parts, can expect around 800mm of rainfall. The wettest period is early summer in most of the country and autumn or winter in the southern valleys.

The average temperature in Sofia, the country’s capital, ranges from -4° to 2°C in January and 16° to 27°C in July. In Varna, by the Black Sea, you can expect averages of -1° to 6°C in January, and 19° to 30°C in July.

Cost/Standard of Living

You can enjoy a fantastic standard of living in Bulgaria as the cost of living is much lower than in western European countries; and this, for many people, is a major attraction to the country. Monthly salaries in Bulgaria are around 150 Euros per month (though this is higher in Sofia) and while the cost of electrical goods, imported goods and the like are not that much lower, essential everyday items are much less costly.

Eating out regularly is an inexpensive proposition. A three course meal in, drinks included, will set you back around £3-£5. Travel is excellent; taxis are easy to flag down and cost around 15 pence a kilometre. Drinking in bars is similarly reasonable; a good bottle of Bulgarian wine will cost around £3 or £4, beer less than a Euro a bottle (under 70p) and Bulgarians spirits around 50p a go.

If you plan to spend a lot of time out in Bulgaria it might be a good idea to purchase a car. A decent ‘run-around’ can be had for 3000 Euro (£2200) and under. Insurance is cheap, and petrol prices are less than those in Britain; self service petrol stations (usually with small coffee/snack shops attached) can be found easily.

Home insurance costs in the country can vary, particularly depending on the value of the house and its contents but typically it will be around 100-200 Euros. Using a decent insurance company such as Allianz will protect you against theft, fire and flood damage. The gas system network in Bulgaria is not developed yet and people mostly tend to use electricity to cook. Many of the rural properties rely on wood or charcoal (some use what are known as Djamal heating systems) and are very cheap to run. Local and national taxes are low; probably setting you back 80 Euros per annum. If you plan to live in your property for just a few months a year it is probably best to have a security system installed, and to have private property protection. There are a few professional companies which can provide such a service.

Healthcare

The UK has a reciprocal healthcare with Bulgaria, which enables travellers to receive free or low cost emergency care. In order to be eligible you will need to produce a valid UK passport and NHS medical card. Generally the hospital treatment will be free, especially in the event of an emergency. Some other medical and dental treatment will also be free of charge. Medicines supplied by the public pharmacy must be purchased.

Currency

The currency in Bulgaria is the Leva. Cash can be easily exchanged at numerous small exchange offices dotted around the towns, usually for no commission. Travellers’ cheques are an option, but generally more of a hassle than help as many banks do not accept them; and those that do will probably hit you with a 5% commission. ATMs are a common sight in Sofia and the Black Sea resorts.

Food and Drink

Due to its location and diverse culture Bulgarian cuisine has something to appeal to everyone; though heavily influenced by Slavonic, Greek and Turkish tastes Bulgarian food is still close to traditional European fare . The vast majority of the produce is organic, as all but a small fraction of the farmland has always been tended by traditional farming methods only. Favourite foods of the Bulgarians include vegetables such as peppers, cucumbers and tomatoes, beans, rice, fruit such as cherry, pears and grapes, as well as pork, fish, beef and chicken. Bread is an important mainstay of the Bulgarian diet, and is served with every meal. Dishes are usually baked on a slow oven, and heavily flavoured with herbs and spices.

Specialities of Bulgarian cuisine include:

• Kiselo Mlyako - A yogurt unique to Bulgaria; the country is renowned for both the variety, and quality of its yogurts.
• White cheese – Very similar to Greek feta, though if you ask any Bulgarian far superior!
• Kashkaval - Another cheese, especially tasty when freshly breaded and deep fried. You’ll find it’s not gooey and much more flavour-some than mozzarella!)
• Loukanka - A flat dry sausage, served thinly sliced with a selection of cheese.
• Thracian katmi - A special type of pancake.
• Bansko-style kapam - Meat and vegetables stewed in an earthenware dish.
• Shopska salad - The most famous, and delicious Bulgarian salad!

Bulgaria is also renowned for its excellent wines, they are in fact one of the country’s main exports. Reds are especially popular (Merlot, Cabernet and Gamza for example), but the delicate whites (Dimyat, Misket, Riesling, etc) are equally good. Rakiya, which is a traditional Bulgarian brandy made from plum or grape is also widely popular and not to be missed.

Furthermore, the country is home to 500 sources of mineral water and some 1600 springs. Bulgarian water has been considered for thousands of years to be rich in ‘life giving’ qualities and empires such as Romans were quick to make use of this resource; not only as drinking water, but also as spas and mineral baths.

Places to visit

Veliko Turnovo, in central Bulgaria, is arguably the most attractive of Bulgaria’s towns.. It is proving increasingly popular with holiday makers and investors from all over Europe. The town is about two and a half hours drive from Sofia International Airport and the roads connecting the towns are good – a taxi from the airport would cost you £30 and a bus just £3. It is located in Central Bulgaria and was nation’s medieval capital. The town is made up of the old and new parts. Both contain great restaurants and bars, with a great selection of food and drink. Taxis can take you anywhere in the town for about 30p – and they are much easier to catch than in England, you can simply hail a yellow cab on the street. The local people dine out quite often meaning there is always a lively atmosphere in the restaurants. The town is also home to Cyril and Metodi University and there is a large student population, which is one of the reasons it is such a dynamic and interesting place to be. Tsaravets, located in the old part of the town is contains the well preserved remains of the old city wall and castle. During the summer months the spectacular sound and light show light up the hills on which it is based. Veliko Turnovo is a hilly town with a river running through it.

The Veliko Turnovo Region
Bulgaria is a mountainous, lush, green country and the countryside surrounding Veliko Turnovo typifies this. Villages with old style, traditional houses have proved very popular with buyers in this area. Some villages in the area have seen many of their properties purchased by English people, and as a result these villages tend to be more expensive. As a general rule of thumb, the nearer you get from Veliko Turnovo city centre the more expensive houses become. There are still many excellent properties in this area and they are predicted to enjoy great capital growth, following from last year’s trend.

Teteven
Teteven is located just 45 minutes drive from Sofia airport. The town boasts an imposing mountain backdrop. The popular resort of Ribaritsa is just 8 km away from Teteven town centre, here there are luxury hotels great for summer holidays. Plans are also underway to build ski lifts and infrastructure in this region and it is set to develop even morntains five swimming pools, three discos, seventeen restaurants and many bars. e as a tourist destination.

Ribaritsa is an exellent place for investment at the moment due to the imminent building of three olympic standard ski slopes and the supporting facilities, including four large hotels. There are two working ski slopes and one that is currently under repair. Ribaritsa is also a popular summer resort and contains five swimming pools, three discos, seventeen restaurants and many bars.